IO Biotech, Inc. (NASDAQ:IOBT) Major Shareholder Sells $68,524.26 in Stock

IO Biotech, Inc. (NASDAQ:IOBT) major shareholder Holdings A/S Novo sold 51,522 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $1.33, for a total transaction of $68,524.26. Following the completion of the sale, the insider now directly owns 4,377,927 shares of the company’s stock, valued at $5,822,642.91. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Holdings A/S Novo also recently made the following trade(s):

• On Friday, May 10th, Holdings A/S Novo sold 658,809 shares of IO Biotech stock. The stock was sold at an average price of $1.22, for a total transaction of $803,746.98.

IO Biotech Stock Performance

IOBT stock opened at $1.29 on Monday. The company’s fifty day moving average price is $1.27 and its 200-day moving average price is $1.51. IO Biotech, Inc. has a one year low of $0.82 and a one year high of $2.18. The company has a market capitalization of $84.99 million, a PE ratio of -0.69 and a beta of 0.47.

IO Biotech (NASDAQ:IOBT) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.07. On average, research analysts predict that IO Biotech, Inc. will post -1.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright upped their price objective on IO Biotech from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th.

Institutional Investors Weigh In On IO Biotech

A hedge fund recently raised its stake in IO Biotech stock. PFM Health Sciences LP grew its position in IO Biotech, Inc. (NASDAQ:IOBT) by 73.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,341,107 shares of the company’s stock after acquiring an additional 987,654 shares during the quarter. PFM Health Sciences LP owned 3.55% of IO Biotech worth $4,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 54.76% of the company’s stock.

About IO Biotech

IO Biotech, Inc, a clinical-stage biopharmaceutical company, develops immune-modulating therapeutic cancer vaccines based on the T-win technology platform. The company's lead product candidate, IO102-IO103, which is designed to target immunosuppressive mechanisms mediated by Indoleamine 2,3-dehydrogenase (IDO), and programmed death-ligand (PD-L1) that is in phase 3 clinical trial to treat melanoma, as well as in phase 2 clinical trial to treat lung, head and neck, bladder, and melanoma cancer.